The Association of Banks in Malaysia or more commonly known, ABM, was formed in November 1973 with the primary objective of establishing and promoting a sound banking system in Malaysia in cooperation and consultation with Bank Negara Malaysia.

Membership in ABM consists of ordinary and associate members. Membership is opened to all licensed banks in Malaysia and representative offices of foreign banks located in Malaysia. Currently, there are 22 commercial banks comprising 9 domestic banks and 13 locally incorporated foreign banks operating in the country, which are members of ABM. Together these banks have a total of 1779 branches across the country and total workforce of over 70,000 staff.

Specifically, ABM aims at facilitating a conducive banking environment, promoting orderliness and ethical banking practices. Banking rules and regulations are reviewed whenever necessary and developments on policies affecting the banking industry are pursued. ABM also provides a forum where commercial banks are able to develop and trace the progress of improvements to the system or to address possible issues that could affect the industry. Interest rates, clearing systems, banking infrastructure, new policies, regulations and requirements governing banking business, human resource development and the banks’ contributions to socio-economic planning and development of the country are some issues that form part of ABM’s agenda.

One of the major issues dealt with by ABM is a national-level chip migration strategy for the card issuing institutions and acquirers. In order to reduce credit card fraud in the country, the banks have embarked on a National Chip Migration project where credit cards will now be chip based and therefore more secure.

ABM also spearheaded in the recent past, a campaign to promote the use of electronic payments as an alternative channel of payment. With the introduction of electronic banking, banks are now able to deliver a multitude of new banking services for their customers, via a variety of innovative electronic channels. Understanding that risk is a concern for consumers in utilizing electronic delivery channels, banks have invested considerably in digital security technology to support electronic banking services. Significant measures are continually being put in place to prepare the banking industry for a more liberalized and global operating environment and to take advantage of emerging new opportunities.

Apart from the promotion of the interests of member banks, ABM also collaborate with other similar organisations, government ministries and private sector groups to play a much broader role as part of its contribution to the country.

Regionally, ABM represents the views of a key sector for the nation in forums such as ASEAN and APEC. Our involvement in the region also extends to ASEAN Finance Corporation Pte Ltd, a merchant bank incorporated in Singapore, primarily involved in the enhancement of economic development and cooperation amongst ASEAN countries.

ABM is governed by a Council, currently led by Affin Bank Berhad. The Secretariat headed by the Executive Director, is located in the heart of the city at the following address :

The Association of Banks in Malaysia
34th Floor, UBN Tower
10, Jalan P Ramlee
50250 Kuala Lumpur
Tel : 603-2078 8041
Fax : 603-2078-8004
Website : http://www.abm.org.my
E-mail : banks@abm.org.my

Chairman: YBhg Dato' Sri Abdul Hamidy Abdul Hafiz
Executive Director : Mrs Wong Suan Lye